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Form 990

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Form 990 Nonprofit Tax Services

All 501c3 and other tax exempt organizations must file a Form 990 tax return.

The Form 990 is an IRS requirement in order to maintain your 501c3 tax exempt tax status. If your organization fails to file a tax return for 3 consecutive years, the IRS will revoke your 501c3 tax exempt status. The IRS has revoked the 501c3 tax exempt tax status of more than 620,000 nonprofit organizations for failure to file Form 990 tax returns. Penalties and interest will also be incurred by organizations which does not meet the filing deadlines.

The Form 990 tax return is specifically for tax exempt organizations. The Form 990 is an informational tax return and is used by the IRS to determine whether your organization should maintain its 501c3 tax status. Though you file the Form 990 tax return, your organizations is not required to pay income taxes (as the organization is tax exempt).

Form 990 requires a certain expertise.

Floyd Green CPA prepares the Form 990 for many 501c3 and tax exempt organizations annually. The form 990 is very different than a business tax return or a personal tax return.

The Form 990 must be prepared in such a way that clearly demonstrates to the IRS that you are a charitable, educational or religious organization. You must include adequate descriptions of programs and accomplishments as evidence that your activities are in line with the 501c3 tax code. You must also include many numbers and calculations that show where your funding is coming from and what the funds are being spent on. In most cases, it is important that at least 33% of your organizations funding come from public support.

The Form 990 also has many schedules and attachments that must be included with the Form 990. If you fail to include the correct schedules, your Form 990 tax return will be rejected by the IRS. Thus, it is important that your Form 990 is completed correctly the first time.

Our Specialty is the Form 990 Tax Return

Our Form 990 expertise and experience is why our clients come back year after year. We make sure that the Form 990 is completed correctly and on time. Floyd Green CPA sets up 501c3 and other tax exempt organizations nationwide and prepares the Form 990 tax return for many of these organizations throughout the US.

We always provide our clients with suggestions to keep their organization in tax compliance. Throughout the year, we provide our clients with updates on changes in tax rules and regulations affecting tax exempt organizations.